Cryptocurrency exchange BitMEX has suspended trading due to "a technical issue," according to a recent announcement.
The exchange says that it is currently working on a fix, without specifying how much time it will possibly take to resume trading.
BitMEX has stressed that its customers' funds are safe. "We remind our customers that all funds are safe, and we apologize for any inconvenience."
It will be able to process deposits and withdrawals after resolving the issue.
Earlier this week, BitMEX CEO Alexander Hoeptner called it quits. He was replaced by Chief Financial Officer Stephan Lutz. Hoeptner, former Borse Stuttgart GmbH, spearheaded BitMEX in 2020 after the departure of Arthur Hayes. He took over from interim CEO Vivien Khoo.
Alex DovbnyaBitMEX, which was founded back in 2014, quickly emerged as one of the leaders in the derivatives sector. Hoeptner has managed to transform the controversial exchange, which was plagued by a litany of legal troubles, into a regulatory-compliant platform. However, BitMEX's derivatives market share has seen a significant decline over the past few years. The exchange expanded its services to spot trading and custody in a bid to attract more customers.
Earlier this October, Hoeptner said that the largest exchange was planning to launch a new native token.
UPDATE (Oct. 26, 16:12 UTC): BitMEX says that its trading engine is back online on cancel mode only. Trading is expected to resume at 16:15 UTC.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov